Business
Hollyweed North Cannabis and Navion Capital Provide Update and Announce Private Placement Financings
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY...
About this update from Noa Lithium Brines Inc
[{"type":"text","content":"Hollyweed North Cannabis and Navion Capital Provide Update and Announce Private Placement FinancingsNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW. This News Release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities issued pursuant to the plan of arrangement and financing described herein have not been and will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from such registration.Corporate Update CALGARY, ALBERTA / ACCESSWIRE / July 5, 2019 / On August 22, 2018, Navion Capital Inc. (\"Navion\") (TSX-V:NAVN.P) and Hollyweed North Cannabis Inc., (\"Hollyweed\" or the \"Company\") announced business combination of Navion and Hollyweed (the \"Business Combination\"). The company resulting from the Business Combination is herein referred to as the \"Resulting Issuer\". In connection with the Business Combination, as reported in its previous press release, Navion proposes to consolidate its issued and outstanding shares on a 2 for 1 basis (the \"Consolidation\"). Concurrently with the Consolidation, the transaction is expected to result in the security holders of Hollyweed North exchanging all securities, consisting of 82,257,397 common shares (not including any securities issuable pursuant to the Offering or the Non-Brokered Financing, as defined below) and 4,257,190 stock options for 82,257,397 shares and 4,257,190 stock options of the Corporation, on the same terms. The transaction will be structured by way of a plan of arrangement, amalgamation, merger, takeover bid, reorganization or other similar form of transaction, as determined following a review of all relevant legal, regulatory and tax matters. Following the Consolidation and the issuance of securities to Hollyweed shareholders (not including any securities issuable pursuant to the Offering or the Non-Brokered Financing, as defined below), shareholders of Navion will hold 2,000,000 common shares of the Resulting Issuer, representing approximately 2.4% of the issued...